Vehicle health monitoring refers to monitor vital driver signs including fatigue, drowsiness, and distraction. Automotive active health monitoring involves health technology that, inside a vehicle, leads to safety improvements. Through tracking vital signs, medical technology inside a vehicle may lead to changes in safety as well as health and wellness aspects. In a poor state of mind, injuries are often caused by exhaustion, irritation, or other medical conditions. Moreover, several original equipment manufacturers (OEM)are focusing on the R&D of an active health monitoring system in terms of their location under the driver’s seat by managing human factors requires controlling, recording, and monitoring the driver's most critical vital parameters.Within the automotive sector, an array of institutions, including universities, public agencies, and major companies are working in tandem with each other to explore the potential benefits of these technologies in the automotive sector. Over the past few years, automotive active health monitoring systems have gained significant popularity and the trend is set to continue during the forecast period.
COVID-19 scenario analysis:
- As the supply chain ramps up the original equipment manufacturer (OEM) will gradually increase volumes. They will draw on their firsthand experiences from locations that have already have resumed operations to inform decisions in their market.
- The shutdown of original equipment manufacturer (OEM)assembly plants has had a pronounced ripple effect on the rest of the industry, with thousands of suppliers and sub-suppliers being directly impacted.
- There will be a slow restarting of operations, first for the plants and then for suppliers, with the plants that support the most profitable vehicles being the first to come back online.
- The safety and security feature have to be improved after the lockdown, which may benefit the vehicle health monitoring marketdue to the virus.
- The most immediate and visible effect of COVID-19 in the traditional automotive sector is the standstill of production by many original equipment manufacturer (OEM)which has affected the market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Some of the factors that boost the market growth include increase in chronic illness and technological advancements. However, the dashboard health monitoring system has comparatively more componentshence, it is more expensive, which is anticipated to hamper the growth of the market. Furthermore, governments across the world continue to focus on minimizing the number of road accidents.The demand for cutting-edge automotive active health monitoring systems is anticipated to grow at an impressive pace and is expected to offer lucrative opportunities for the marketduring the forecast period.
The vehicle health monitoring markettrends are as follows:
Increase in chronic illness
The demand for automotive active health monitoring systems is undergoing a powerful expansion due to the increase in the population of obese and diabetes patients. The active safety motoring device has an integrated biometric feedback sensor with electrodes placed close to the driver's seat, seatbelt, or steering wheel for health assessment. Moreover, chronic disease is a common variable in road deaths, as several drivers were diagnosed with diabetes, cardiac, and renal diseases, leading to road accidents caused by exhaustion and confusion.
The technological advancements and innovations are expected to play an important role in the expansion of the global automotive active health monitoring system market. In addition, the crossover between the health sector and the automotive sector has resulted in a staggering surge in the adoption of automotive active health monitoring systems. At present, steering wheels and seat belts can offer real-time data pertaining to the driver’s health. Moreover, the advancements in the electronics and microelectronics space have led to a significant rise in the development of cost-effective devices that are increasingly being used as monitoring tools and areexpected to boost the market growth during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the vehicle health monitoring market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the vehicle health monitoring market share.
- The current market is quantitatively analyzed to highlight the vehicle health monitoring market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed vehicle health monitoring market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the vehicle health monitoring market research report:
- What are the leading market players active in the vehicle health monitoring market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Vehicle Health Monitoring Market Report Highlights
By Sales Channel
Key Market Players
Hoana Medical, Questex, Parker Hannifin Corp, Acellent Technologies, Inc., TATA ELXSI, Qualcomm Technologies, Inc., Faurecia, FLEX LTD., Plessey, KritiKal Solutions Inc.